Industrial & Institutional Cleaning Chemicals Market Size, Status and Estimation 2020 to 2024 | 3M, Akzo Nobel N.V., Albemarle Corporation

This report on the global Industrial & Institutional Cleaning Chemicals Market Research Report 2020 is detailed research that helps answer business questions related to competitive intelligence, market analysis, and market trends. It also highlights each of the prominent factors responsible for the growth of the market are; demographics, increasing purchasing power, increasing demand, regulatory policies, product standards, and manufacturing standards.

The Industrial & institutional cleaning chemicals market is expected to grow at a CAGR of around 5.45% during the forecast period of 2019-2024.

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Companies Covered (Revenue, Gross Margin, and Market Share)-

3M, Akzo Nobel N.V., Albemarle Corporation, BASF SE, Clariant, Croda International Plc, Eastman Chemical Company, Henkel AG & Co. KGaA, Huntsman International LLC, National Chemical Laboratory (NCL), Procter & Gamble, Reckitt Benckiser Group plc, Solvay, Spartan Chemical Company, Inc., Stepan Company, W.M. Barr & Co. and Others.....

The leading players of the Industrial & Institutional Cleaning Chemicals industry, their market share, product portfolio, company profiles are covered in this report. The competitive market scenario among Industrial & Institutional Cleaning Chemicals players will help the industry aspirants in planning their strategies.

Market Overview

The major factors driving the growth of the market studied are rising demand from the healthcare industry, and increasing demand from the food industry owing to foodborne illness. On the flip side, health hazards caused by cleaning chemicals serve as a restraint for the studied market.

- The general-purpose cleaners segment dominated the market in 2018 and is likely to grow during the forecast period, owing to increased awareness about the importance of living in a hygienic environment.
- The emerging use of bio-based cleaning chemicals is likely to provide opportunities for the studied market during the forecast period.
- North America dominated the market across the globe, with high awareness among the population, and collective efforts to maintain cleanliness and hygiene.

Key Market Trends

Commercial Application to Dominate the Market Demand

- The commercial segment stands to be the largest consumer in the industrial and institutional cleaning chemicals market.
- Commercial application of cleaning chemicals is found in industries such as food & beverage, retail, laundry & dry-cleaning, healthcare, car washes, and offices, hotels & lodging.
- Thus, growth in such end-industries is further likely to increase the demand for cleaning chemicals from commercial applications.
- The food & beverage industry has been growing worldwide, with the growing innovation and development of new food products and drinks. With the growing population across the globe, the industry is further increasing production to cater to the growing demand. During the period 2018-2019, the world population was registered to be growing at a rate of 1.07% per year.
- In regions, like Asia-Pacific and the Middle East & Africa, investments in healthcare industry have been increasing due to the growing need for medical assistance, an increase in spending capability on health, and a lack of proper healthcare sector.
- In Singapore, USD 740 million Woodlands Health Campus construction project is under construction, which is expected to be completed by 2022.
- Hence, such trends in the end-user industries are likely to increase the demand for industrial & institutional cleaning chemicals during the forecast period.

North America Region to Dominate the Market

- North America region dominated the global market share in 2018. The increasing hospital construction and high awareness among the population regarding the importance of hygienic environment are some of the factors driving the growth of industrial & institutional cleaning chemicals market in North America.
- In September 2018, Canada had about 20 educational and medical construction projects under the planning phase. Some of the major projects include USD 171 million Brandon University project, USD 180 million Montreal University renovation project, USD 120 million HEC Montreal - City Center project, USD 2 billion New Edmonton hospital & Health Campus Project, USD 1.8 billion Maisonneuve-Rosemont hospital renovation project, USD 1.4 billion Royal Alexandra hospital acute care tower project, USD 622 million Burnaby General hospital expansion, USD 730 million Royal Columbian hospital re-development Phases 2 & 3, and others.
- In May 2019, Mexico was recorded to be witnessing high growth in hotel construction, where 15,731 rooms were under construction, representing about 3.9% of the country's existing supply.
- Hence, with the completion of such construction projects in the region, the demand for industrial & institutional cleaning chemicals is projected to increase in the region during the forecast period.

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Table of Contents:

1 Report Overview

2 Executive Summaries

3 Key Players

4 Breakdown Data by Type and Application

5 North America

6 Europe

7 China

8 Japan

9 International Players Profiles

10 Market Dynamics

11 Key Findings in This Report

12 Appendix

Note:

All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.

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